Sensex pares initial gains; down by 33 points

The BSE benchmark Sensex failed to maintain initial gains and slipped by 33 points to 19,306.71 points on Monday on selling in FMCG, banking, IT and PSU stocks.

The BSE—30 index, Sensex, opened slightly up at 19,342.83 points and shot up further to a high of 19,416.45 on good demand, in view of higher global advices coupled with persistent capital inflows from foreign funds.

However, it declined afterwards to 19,292.09 before quoting 19,306.71 at 1030 hrs, showing a loss of 33.19 points or 0.17 per cent from its last weekend’s level.

The NSE 50—share index Nifty also moved down by 14.85 points or 0.25 percent to 5,865.00 at 1030 hrs.

Major losers were HDFC Bank (1.46 per cent), ITC (1.09 per cent), Hero Motocorp (0.92 per cent), Tata Power (0.84 per cent) and Sterlite Ind (0.78 per cent).

However, Maruti Suzuki firmed up by 1.76 per cent, M&M (1.39 per cent), Tata Steel (1.14 per cent), Jindal Steel (1.12 per cent) and SBI (0.87 per cent).